Fiera Capital Corp Raises Stock Holdings in Spotify Technology $SPOT

Fiera Capital Corp boosted its stake in Spotify Technology (NYSE:SPOT) by 15.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,835 shares of the company’s stock after purchasing an additional 1,613 shares during the quarter. Fiera Capital Corp’s holdings in Spotify Technology were worth $8,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its position in shares of Spotify Technology by 1.7% during the 2nd quarter. State Street Corp now owns 4,574,228 shares of the company’s stock valued at $3,509,988,000 after buying an additional 74,256 shares in the last quarter. Fisher Asset Management LLC grew its position in Spotify Technology by 22.7% in the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock worth $1,909,920,000 after acquiring an additional 460,115 shares in the last quarter. Geode Capital Management LLC increased its stake in Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after acquiring an additional 49,377 shares during the last quarter. Invesco Ltd. increased its stake in Spotify Technology by 17.3% in the second quarter. Invesco Ltd. now owns 1,454,383 shares of the company’s stock valued at $1,116,007,000 after acquiring an additional 214,355 shares during the last quarter. Finally, Edgewood Management LLC raised its position in Spotify Technology by 14.4% during the second quarter. Edgewood Management LLC now owns 1,249,791 shares of the company’s stock valued at $959,015,000 after purchasing an additional 157,567 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a research report on Monday, November 10th. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and reduced their price target for the company from $735.00 to $700.00 in a research report on Friday, January 23rd. KeyCorp decreased their price target on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a research note on Monday, February 9th. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Guggenheim decreased their target price on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $706.42.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $490.98 on Friday. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $785.00. The company’s 50 day moving average price is $521.83 and its 200-day moving average price is $615.08. The stock has a market capitalization of $101.06 billion, a price-to-earnings ratio of 50.93, a P/E/G ratio of 1.07 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter in the prior year, the company posted $1.88 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.